Can Monad Compete with Ethereum? | Airdrop Concerns and Community Reactions
A recent launch on the blockchain scene, Monad claims to rival Ethereum with its ability to handle 10,000 transactions per second (TPS) and near-immediate finality. However, its rollout has faced controversy, particularly surrounding its token distribution.
Monad's Promise: High Performance L1
Monad aims for high throughput in smart contracts, appealing to developers wanting faster and cheaper options. Despite the technological ambition, voices in the community question its sustainability. "They don't have what it takes to stand the test of time, not with their insincere devs," a commenter stated, adding skepticism about Monad's ability to challenge Ethereum or even Solana.
Airdrop Drama Continues
The airdrop has stirred up significant tension. 289,000 wallets received tokens, while many early contributors missed out. This disparity fueled discussions around the #MonadScam tag. Despite these issues, the technical capabilities of Monad keep some interested. "With over 50% of supply locked until 2029? That doesn't bode well," noted another user, highlighting concerns over token availability.
Tokenomics Under Scrutiny
With only 10.8% of the 100 billion total supply circulating at launch and a significant portion created from a $269 million public sale, questions of fairness and trust are rampant. A commenter added, "70% of the tokens are controlled by the devs so no trust." This sentiment reflects broader concerns regarding the distribution and governance of Monad's token.
Community Sentiment: A Mixed Bag
The community's emotional landscape seems conflicted:
Cautious Optimism: Some remain hopeful about Monad's technology, despite frustrations over the airdrop.
Trust Issues: Many worry about the control developers wield over token supply, anticipating that these factors may undermine community support.
Skepticism Toward Competition: The prevailing atmosphere suggests a reluctance to view Monad as a true competitor to Ethereum or Solana, as several Layer 1s have made similar promises without delivering results.
Key Insights
π 289,000 wallets received tokens, stirring debates on airdrop fairness.
π A mere 10.8% of the total token supply is circulating at launch.
π° Concerns mount as 70% of tokens are controlled by developers, impacting trust.
Can Monad carve out a space in the crowded blockchain field, or will ongoing airdrop issues hinder its initial momentum? With the next few weeks critical for building trust, many are watching closely to see if it can deliver on its promises.